About Jeffrey A. Barrack (LAW ’96)

Partner - Barrack, Rodos & Bacine
Partner - Barrack, Rodos & Bacine

Defense Bar Commentary Highlights Practice Points for Biotech Securities Litigation

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A panel of corporate advisors updated their 2017 survey of securities litigation involving development-stage biotech companies, providing important practice points for the institutional investor and concluding that biotech start-ups do not pose a greater securities class action risk compared to other companies. Stronger cases involved plaintiffs making credible allegations that defendants intentionally misrepresented data or facts about their interactions with the FDA, omitted adverse regulator feedback, or presented misleading information about regulatory milestones or assessments.

Mind the GAAP: Seeking Transparency Through Disclosure Again

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Securities and Exchange Commission

There has been a resurgence of concern about the misuse of financial measures and key performance indicators not based on generally accepted accounting principles (GAAP). Late last year, the Chair of the Securities Exchange Commission (SEC), Mary Jo White, addressed the 2015 National Conference of the American Institute of Certified Public Accountants (AICPA). She noted

New GASB Statements: Considerations and Best Practices for Public Pension Fiduciaries

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Since the economic crisis, public finance commentators have urged caution in light of the troubles facing Detroit or Puerto Rico. Recent changes in accounting rules for public pensions have raised concerns about risks for managers of those pensions under federal securities laws. The Government Accounting Standards Board (GASB) sets accounting standards for public pensions. It